This audited financial statement supersedes the version posted on 3 December 2001.
ICANN's auditors have submitted a revised 2000-2001 Audited Financial Statement to correct two errors discovered subsequent to the original Audited Financial Statement that was posted on December 3, 2001. The revised Audited Financial Statement has been posted and is linked below.
One error occurred because of the way $135,000 in contributions received in 1999-2000 was released in 2000-2001 from a restricted reserve at the time the contribution was actually spent. It was released as an additional revenue; it should have been released as a negative expense to offset the actual expense. This correction has the effect of reducing both revenues and expenses by $135,000 and has no effect, therefore, on year-end net assets.
The second error occurred when payments on a leasehold improvement loan were incorrectly posted, resulting in expenses being under-reported by $15,393 and the liability for the loan not being recorded. Correcting this error does have the effect of reducing the year-end net assets from the previously reported figure of $2,989,262 to the new adjusted figure of $2,973,869.
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